Many foundations have been set up by successful actors and artists in order to give back and create similar opportunities for others. But none have framed their aspirations as movingly as Kevin Spacey.

"When I first started out, I was lucky enough to meet Jack Lemmon, who encouraged me to become an actor," Spacey notes on his foundation's website. "He subsequently became a great mentor in my life. Jack had a phrase that he used all the time that I’ve now adopted as my own. He believed that if you’ve been successful in your chosen path, if you’ve been able to realize your ambition, then you are obligated to 'Send the elevator back down.'"

And that, in a nutshell, is the gist of the mission of the Kevin Spacey Foundation (KSF). The foundation enables the creation of new work via KSF Grants, it designs bespoke education opportunities through KSF Learning, and offers subsidized university places via KSF Scholarships.

Today I'd like to take a closer look at the KSF Grants.

From May 1 to May 29, the foundation will accept applications for the development of a play, musical, dance, choir work, or short film. The foundation will subsequently support one project per genre in the U.S. and UK. Ten projects in total. Winners will receive a grant of up to $10,000 (or £10,000) as well as mentoring from a high level industry professional and year-round support from KSF.

Previous winners include:

Washington, DC's Young Playwright's Theater, which provides in-school and after-school programming to area students.

New York City-based choreographer and dancer Danah Katz, who used funding to launch a production of "Thousand Plateaus," an interactive dance work.

Filmmaker Rachel Suri, whose film Rodeo Colin, examining an aspiring rodeo star, will go into production this year.

U.S.-based applicants who are subsequently shortlisted for grants will be invited to present their project ideas to a panel of industry professionals in New York City the week of June 15th. Grants will be awarded in July. Click here to apply.

And if you should be so fortunate to win, please, of course, don't forget to send the elevator back down.

Many foundations have been set up successful actors and artists in order to "give back" and create similar opportunities for others. But none have framed their aspirations as movingly as Kevin Spacey.

"When I first started out, I was lucky enough to meet Jack Lemmon who encouraged me to become an actor," he notes on his foundation's website. "He subsequently became a great mentor in my life. Jack had a phrase that he used all the time that I’ve now adopted as my own. He believed that if you’ve been successful in your chosen path, if you’ve been able to realize your ambition, then you are obligated to 'Send the elevator back down.'"

And that, in a nutshell, is the gist of the mission of the Kevin Spacey Foundation (KSF). The foundation enables the creation of new work via KSF Grants, design bespoke education opportunities through KSF Learning, and offer subsidized university places via KSF Scholarships.

Today I'd like to take a closer look at the KSF Grants. From May 1st to the 29th, the founadtion will accept applications for the development of a play, musical, dance, choir work, or short film. The foundation will subsequently support one project per genre in the US and UK — 10 projects in total. Winners will receive a grant of up to $10,000 (or £10,000) as well as mentoring from a high level industry professional and year round support from KSF.

And if you should be so fortunate to win, please don't forget to send the elevator back down.will receive a grant of up to £10,000 or $10,000 if based in the USA as well as mentoring from a high level industry professional and year round support from KSF. - See more at: http://www.kevinspaceyfoundation.org/grants/how-to-apply-2/#sthash.nBUKQ4Of.dpu

We enable the creation of new work via KSF Grants, design bespoke education opportunities through KSF Learning, and offer subsidized university places via KSF Scholarships. - See more at: http://www.kevinspaceyfoundation.org/about/#sthash.3SScjpCQ.dpuf

When I first started out, I was lucky enough to meet Jack Lemmon who encouraged me to become an actor. He subsequently became a great mentor in my life. Jack had a phrase that he used all the time that I’ve now adopted as my own. He believed that if you’ve been successful in your chosen path, if you’ve been able to realize your ambition, then you are obligated to:

“Send the elevator back down”

- See more at: http://www.kevinspaceyfoundation.org/about/#sthash.3SScjpCQ.dpuf

When I first started out, I was lucky enough to meet Jack Lemmon who encouraged me to become an actor. He subsequently became a great mentor in my life. Jack had a phrase that he used all the time that I’ve now adopted as my own. He believed that if you’ve been successful in your chosen path, if you’ve been able to realize your ambition, then you are obligated to:

“Send the elevator back down”

- See more at: http://www.kevinspaceyfoundation.org/about/#sthash.3SScjpCQ.dpuf